NRIs from 10 countries now eligible to use UPI for money transfer – All you need to knowHimanshi Singh
Jan 17, 2023Good news for NRIs!
Non-Resident Indians (NRIs) have now become eligible to use UPI for fund transfer. The National Payments Corporation of India (NPCI) has allowed NRIs from 10 countries to transfer funds through UPI.Credit: BCCL
NRIs now eligible for UPI use
NRIs from 10 countries can now use the UPI platform from NRE (non-resident external) or NRO (non-resident ordinary) accounts using their international mobile numbers.Credit: BCCL
NRIs from these countries can use UPI
The facility has been made available for NRIs from Singapore, Australia, Canada, Hong Kong, Oman, Qatar, USA, Saudi Arabia, UAE and the United Kingdom.Credit: BCCL
UPI use for NRIs to become operational soon
To make this functional, the NPCI has asked UPI participants to put in place a mechanism by April 30.Credit: BCCL
What about other countries?
The NPCI, which operates the UPI platform, has said that it shall extend the facility for other country codes in the near future as well.Credit: BCCL
How can NRIs use UPI?
To use UPI for digital money transfer NRIs will just need to link their NRE and NRO accounts linked to their international SIM to UPI.Credit: BCCL
How can NRIs use UPI?
Then, they can use it like any other Indian UPI user for merchant payment as well as peer-to-peer payments.Credit: BCCL
UPI transactions in India
UPI transactions logged a year-on-year jump of 106 per cent, rising to 4,597 crore in FY22. In December alone, UPI transactions hit a record of 782.9 crore worth Rs 12.82 lakh crore.Credit: BCCL